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Possible Bearish Inside Day Candle Pattern Detected for Asterias Bio (AMEX:AST)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Asterias Bio (AMEX:AST) based on the price action in the company's shares. Today's price range of $1.65 and $1.80 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Asterias Bio may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Asterias Bio share prices have been bracketed by a low of $1.20 and a high of $3.75 and are now at $1.75, 46% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has slid 1.2%.

There is potential upside of 390.5% for shares of Asterias Bio based on a current price of $1.75 and an average consensus analyst price target of $8.58. The stock should find resistance at its 200-day moving average (MA) of $2.06, as well as support at its 50-day MA of $1.58.

Asterias Biotherapeutics, Inc. is a biotechnology company focused on the field of regenerative medicine. The Company's technology centers on stem cells capable of becoming all of the cell types in the human body, a property also called pluripotency.

SmarTrend is tracking the current trend status for Asterias Bio and will alert subscribers who have AST in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle amex:ast asterias bio

Ticker(s): AST